AC Milan chief: Negotiations for Kaká have broken down

AC Milan CEO Adriano Galliani has announced that the club have ended negotiations with Real Madrid over a move for former star Kaká.

The 30-year-old recently revealed he is unhappy at the Santiago Bernabeu and would be willing to take a pay-cut to return to the San Siro, having left the Rossoneri for the Spanish capital in 2009.

Galliani soon confirmed that the club had entered talks with Los Blancos and that all parties involved were keen to make the transfer happen, however, the 68-year-old has now said that financial problems have ended negotiations.

"The negotiation for Kaká has broken down," he told reporters yesterday. "It is not possible to complete the deal because of fiscal reasons.

"The deal broke down about an hour ago. But we had agreed on everything else."

It is understood that the potential move collapsed because Milan failed to persuade the Santiago Bernabeu outfit to consider a loan deal for Kaka's services.

This is not the first time a potential return for Kaká has been scuppered due to financial problems, with the clubs close to a deal last summer.

Kaká has found form and first-team opportunities hard to come by at Madrid, and has only made seven Liga appearances this season, scoring in none of them.

The Seleção star made 269 appearances during his six years in Italy, scoring 95 goals and making 46 assists.

He also led the Rossoneri to the Serie A title in 2004 and more notably, the Champions League title in 2007